Advancements in Printing Technology and Cost-Effective Labels Propel Growth in Pharmaceutical Labeling Sector
08 Nov 2023
DUBLIN, Nov. 7, 2023 /PRNewswire/ -- The "Pharmaceutical Labeling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028" report has been added to
ResearchAndMarkets.com's offering.
The global pharmaceutical labeling market has exhibited significant growth, reaching a market size of US$ 5.7 billion in 2022. It is projected to continue its upward trajectory, with an anticipated compound annual growth rate (CAGR) of 6.1% during the forecast period of 2023-2028, ultimately reaching a total valuation of US$ 8.0 billion.
Key Market Drivers:
Increasing Demand for Pharmaceutical Products
Advancements in Design and Printing
Environmental Awareness and Sustainable Labeling
Introduction of Cost-Effective Sleeve Labels
Pharmaceutical labeling plays a crucial role in providing instructions and product information to consumers. It includes essential details such as dosage instructions, expiration dates, ingredients, and manufacturing regulations. Effective pharmaceutical labeling ensures consistent branding, clear communication of medical information, avoidance of regulatory penalties, and transparent interaction with consumers. Recent developments in the industry have introduced value-added labeling solutions, including labels with QR codes and RFID tags, as well as clear label designs to convey product benefits effectively.
Market Trends:
The global pharmaceutical labeling market is being driven by the increasing demand for pharmaceutical products, particularly due to the rising prevalence of medical conditions, especially among the aging population. The higher incidence of medical issues has led to a substantial increase in the consumption of pharmaceutical drugs, driving the demand for product labeling. Furthermore, advancements in design and printing technologies have empowered organizations to effectively promote their brands by emphasizing key product features and reaching their target audience.
Growing environmental awareness among consumers regarding non-biodegradable materials, such as plastic, has encouraged the use of renewable and recyclable raw materials for labeling. This trend has resulted in increased investments in research and development (R&D) for eco-friendly and sustainable alternatives. Additionally, the introduction of cost-effective sleeve labels has contributed to market growth.
Key Market Segmentation:
Label Type:
Pressure-Sensitive Label
Glue-Applied Label
Sleeve Label
In-Mold Label
Others
Material:
Paper
Polymer Film
Others
Application:
Instructional Label
Decorative Label
Functional Label
Promotional Label
Others
End Use:
Bottles
Blister Packs
Parenteral Containers
Pre-Fillable Syringes
Pre-Fillable Inhalers
Pouches
Others
Region:
Europe
North America
Asia Pacific
Middle East and Africa
Latin America
Competitive Landscape:
The report offers a comprehensive analysis of the competitive landscape within the global pharmaceutical labeling market. It includes key players such as 3M, Avery Dennison Corporation, Bemis, CCL Industries, Essentra, LINTEC, SATO Holdings, Advanced Labels, Edwards Label, Jet Label, Consolidated Label, Axon, Clabro Label, Classic Label, Maverick Label, Metro Label, Progressive Label, MCC Label, Mercian Labels, Taylor Label, and others.
Key Questions Answered in This Report:
How has the global pharmaceutical labeling market performed to date, and what are the growth prospects?
What impact has COVID-19 had on the global pharmaceutical labeling industry?
Which regions show the most potential in the market?
How are advancements in design and printing contributing to market growth?
What role is environmental awareness and sustainable labeling playing in the industry?
How are cost-effective sleeve labels influencing the market?
How are organizations effectively promoting their brands through labeling?
What key factors are driving the demand for pharmaceutical products?
How is pharmaceutical labeling aiding in regulatory compliance and consumer communication?
For more information about this report visit https://www.researchandmarkets.com/r/mf5ocx
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